JAPANESE YEN LANGUISHES NEAR MULTI-WEEK LOW AGAINST USD; REMAINS VULNERABLE

JAPANESE YEN LANGUISHES NEAR MULTI-WEEK LOW AGAINST USD; REMAINS VULNERABLE
Japanese Yen drops to a three-week low against the US Dollar on Monday.
Markets expect the Bank of Japan to keep rates steady, weighing on the JPY.
US Treasury yields rise, supporting the US Dollar and contributing to Yen weakness.
Japan’s economic data: Core machinery orders and manufacturing PMI show positive results, but BoJ rate hike skepticism persists.
Geopolitical risks (Russia-Ukraine, Middle East) and US tariff concerns may support the Yen as a safe-haven.
Focus on central bank meetings: The Fed meeting on Wednesday and BoJ meeting on Thursday will influence USD/JPY direction.
Technical analysis: USD/JPY above 61.8% Fibonacci level suggests potential for further gains towards 154.55 and 155.00.
Key support levels: Immediate support at 153.35-153.30, with a break below 153.00 potentially targeting 152.10-152.00.